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darren gersh explains the dramatic move. >> reporter: ben bernanke and his colleagues will no longer mark a date on the calendar for when they expect to begin raising interest rates. from now on, they'll make that call based on a target for the unemployment rate and inflation. >> it'll act to some extent as an automatic stabilizer. so if the outlook worsens and that leads markets to think that the increase in rates is further out in the future, that will tend to lower longer term rates, and that will tend to be supportive of the economy. so that has an automatic stabilizer-type effect. it offsets adverse shocks. >> reporter: as it turns out, the fed expects the unemployment rate to fall below 6.5% until 2015, exactly when the fed said a few months ago it expected to begin raising interest rates. so this isn't much of a change in policy. bernanke also said the central bank will continue buying bonds, $85 billion a month, to help bring down interest rates and boost growth. and the fed plans to keep doing that until the labor market shows a solid pickup or there are other signs of troub
darren gersh explains the dramatic move. >> reporter: ben bernanke and his colleagues will no longer mark a date on the calendar for when they expect to begin raising interest rates. from now on, they'll make that call based on a target for the unemployment rate and inflation. >> it'll act to some extent as an automatic stabilizer. so if the outlook worsens and that leads markets to think that the increase in rates is further out in the future, that will tend to lower longer term...
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what would you like to ask the ben bernanke? melissa: with the tenure and the 30 year as we head to break. you can see the yield rising on a ten year by 3 basis points. we will be right back. to work h. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ >> i am adam shapiro. stocks are getting a boost after the federal reserve announced plans to ramp up stimulus to the u.s. economy. the dow was up 70 points. avon is cutting 1500 jobs from its global work force. the company will also leave south corey and vietnam. the moves are part of a turnaround plan as it is working to eliminate hundreds of millions of dollars in costs over the next few years. honda is going to recall 800,000 minivans and suvs nationwide because th
what would you like to ask the ben bernanke? melissa: with the tenure and the 30 year as we head to break. you can see the yield rising on a ten year by 3 basis points. we will be right back. to work h. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial...
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ben bernanke, wow, i think he spooked the markets today. he said something that erased the entire rally. but did people really hear him right? that's up next. we're going to try to figure out bernanke. i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> welcome back to "the kudlow report." in this half hour, look at these violent scenes from michigan. the right to work battle was far from peaceful
ben bernanke, wow, i think he spooked the markets today. he said something that erased the entire rally. but did people really hear him right? that's up next. we're going to try to figure out bernanke. i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people looking...
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and ben bernanke said household confidence is starting to wane. businesses aren't spending money because of the fiscal cliff. so it's so elusive. it's almost right there. next year could be a good year if we can get some of these uncertainties settled. >> thank you so much, christine. appreciate it. >>> 26 minutes past the hour. >>> without it, a lot of iphone users were lost without it. literally. the app that just made a big comeback. switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. he opened up jake's very private world. at first, jake's family thought they saved ziggy, but his connection with jake has been a lifesaver. f
and ben bernanke said household confidence is starting to wane. businesses aren't spending money because of the fiscal cliff. so it's so elusive. it's almost right there. next year could be a good year if we can get some of these uncertainties settled. >> thank you so much, christine. appreciate it. >>> 26 minutes past the hour. >>> without it, a lot of iphone users were lost without it. literally. the app that just made a big comeback. switchgrass in argentina, change...
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thank you, susan. >>> ben bernanke also had big news for investors. the feds taking unprecedented action in keeping interest rates at their record-low levels. erica ferrari is here in new york with that. erica, good morning to you. >> good morning, terrell. for the first time ever, the fed said they would link its actions to specific economic milestones. they said they'll keep the interest rate to 0% until the unemployment rate falls to below 6.5%. the jobless rate may not reach that point until 2015. it's at 7.7% now. rates will also stay low as long as inflation remains below 2.5%. the fed will continue its program of spending $85 billion a month on bond purchases. all of these steps are aimed at spurring borrowing and lending. and news from the federallied most asian markets. tokyo's nikkei added 1.5%. hong kong's hang seng lost a quarter percent. the dow lost nearly 3 points. the nasdaq was down 8. and the u.s. is on track to run up its fifth straight deficit or manufacture than a trillion dollars. the treasury department says the budget gap rose
thank you, susan. >>> ben bernanke also had big news for investors. the feds taking unprecedented action in keeping interest rates at their record-low levels. erica ferrari is here in new york with that. erica, good morning to you. >> good morning, terrell. for the first time ever, the fed said they would link its actions to specific economic milestones. they said they'll keep the interest rate to 0% until the unemployment rate falls to below 6.5%. the jobless rate may not reach...
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. >> someone in dc is focussed on job, fed chairman ben bernanke pledging more easy money to cut the unemployment rate. what does the economy look like in the new year, wells fargo chief economist, john silvio next. lou: chairman ben bernanke made a historic move sitting unemployment rate as a target for monetary policy. we'll be taking that up, talking with wells fargo chief economist john silv sylvia in moments, and announcing they will spend -- a month buying mortgage-backed security. what the market expected and stocks rallied a bit on the announcement, a little. then ben bernanke talked about the fiscal cliff that ended that rally, stocks coming off their highs, index, swung 102 points over second, and s&p finished where it began, nascar -- nazdaq down over 8 points, and trading on big board, busiest in the week, walmart a big mover, dropping retailer part of an overall weak group, best answer, profit taking with the sell-off walmart up, 18 -- almost 19ers in on the year, 10 year, yield rising to 1.69%, and crude market, up, joining me now, wells fargo chief economist, john silv
. >> someone in dc is focussed on job, fed chairman ben bernanke pledging more easy money to cut the unemployment rate. what does the economy look like in the new year, wells fargo chief economist, john silvio next. lou: chairman ben bernanke made a historic move sitting unemployment rate as a target for monetary policy. we'll be taking that up, talking with wells fargo chief economist john silv sylvia in moments, and announcing they will spend -- a month buying mortgage-backed security....
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ben bernanke has become the jobs commander in chief. we've heard nothing but carping on air in the blog sphere as you the fed's latest actions today. i ska give me a break. bernanke said my legacy will be that i helped people get a job. and i care more about the unemployed than i do about taxing or not taxing the wealthiest 2%. further, bernanke's implied with this action to keep buying bonds. buy buy buy buy buy buy! to force interest rates to stay low until we get to a 6.5% unemployment? well, he's saying he's very worried about our country going over the fiscal cliff. and he's extremely anxious about how that new found mandated austerity will mean huge job losses. yeah. lots and lots of people not being able to pay for dinner. our network calculates that while there'll be some powerful initial debt reductions from the reduced spending and much higher taxes, going over this cliff women cost this country 2 million jobs. do you ever hear that during the day? 2 million jobs. a lot of jobs. which is why we believe congress and the preside
ben bernanke has become the jobs commander in chief. we've heard nothing but carping on air in the blog sphere as you the fed's latest actions today. i ska give me a break. bernanke said my legacy will be that i helped people get a job. and i care more about the unemployed than i do about taxing or not taxing the wealthiest 2%. further, bernanke's implied with this action to keep buying bonds. buy buy buy buy buy buy! to force interest rates to stay low until we get to a 6.5% unemployment?...
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when you look at what ben when you look at what ben bernanke did today you've got to marvel. the republicans themselves refuse to get specific on spending until they see something from the white house. the elected portion of our government is not helping this economy at all. their failure to rise above politics to reach a compromise is now really starting to hurt the u.s. economy. in this vacuum, the fed has decided to keep rates low. they stepped in saying listen, business, we are not going to get in your way. we're not going to allow interest rates to go higher until we get many hundreds of thousands of people hired! [ applause ] ben bernanke has become the jobs commander in chief. while i've heard nothing but carping on air in the blogosphere as you the fed's latest actions today. i say give me a break. bernanke said my legacy will be that i helped people get a job. and i care more about the unemployed than i do about taxing or not taxing the wealthiest 2%. further, bernanke's implied with this action to keep buying bonds. buy buy buy buy buy buy! to force interest rates t
when you look at what ben when you look at what ben bernanke did today you've got to marvel. the republicans themselves refuse to get specific on spending until they see something from the white house. the elected portion of our government is not helping this economy at all. their failure to rise above politics to reach a compromise is now really starting to hurt the u.s. economy. in this vacuum, the fed has decided to keep rates low. they stepped in saying listen, business, we are not going to...
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it's ben bernanke's birthday. happy birthday, ben. "squawk box" begins right now. >>> good morning and welcome back to south carolina here on cnbc. i'm andrew ross sorkin along with joe kernen. becky is off today. dino kosof, he's going to have a lot to talk about when it comes to what mr. bernanke just said. later in the program, we'll talk to pimco's kneneal ashkari. >>> a surprise from ben bernanke, linking unemployment to monetary policy. rates will be staying where they are right now, which is close to zero, of course. until at the very least the jobless rate falls to 6.5%. we can only cross our fingers wherefore when that might be. ben bernanke says these changes will make the central bank more transparent adding they can only help the markets. the central bank ramped up its asset purchase program adding $40 billion to its $40 billion a month purchases of mortgage-backed bonds. he spoke about the objectives during wednesday's news conference. >> the asset purchases and the rate increases have different objectives. the asset purc
it's ben bernanke's birthday. happy birthday, ben. "squawk box" begins right now. >>> good morning and welcome back to south carolina here on cnbc. i'm andrew ross sorkin along with joe kernen. becky is off today. dino kosof, he's going to have a lot to talk about when it comes to what mr. bernanke just said. later in the program, we'll talk to pimco's kneneal ashkari. >>> a surprise from ben bernanke, linking unemployment to monetary policy. rates will be staying...
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ben bernanke celebrating his 59th birthday today. we want to know, what do you think bernanke will be wishing for when he blows out his birthday candles which, of course, is what you do if you're on the board of the fomc? tweet us, @squawkstreet. we'll read some of your answers next. sors. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. [ male announcer ] break from the holiday stress. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you
ben bernanke celebrating his 59th birthday today. we want to know, what do you think bernanke will be wishing for when he blows out his birthday candles which, of course, is what you do if you're on the board of the fomc? tweet us, @squawkstreet. we'll read some of your answers next. sors. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick...
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boy, i would think the fed and ben bernanke are rooting hard for that one. we saw how the market is moving on every single development out of washington, with stocks quickly coming off of their session lows today, just on the report that the two main players would finally get in the same room, look at each other eye to eye and talk this out. even with the fed's latest contortions yesterday, it freely admits it does not have the tools that will combat the affects of a fiscal cliff debacle. ben bernanke and his fed cohorts have done the job that congress should have been doing all along. if he had his way, it would not have been the fed doing so much to help this economy. it would have been our elected officials. the job that they're paid to do. he stepped in because he had to, not because he wanted to. now, the message is clear. the fed cannot fix washington's ineptitude this time, if they can't come to a compromise and make a deal. so, you sure can be sure
boy, i would think the fed and ben bernanke are rooting hard for that one. we saw how the market is moving on every single development out of washington, with stocks quickly coming off of their session lows today, just on the report that the two main players would finally get in the same room, look at each other eye to eye and talk this out. even with the fed's latest contortions yesterday, it freely admits it does not have the tools that will combat the affects of a fiscal cliff debacle. ben...
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the euro bounces on the news but stocks in europe are trading lower as ben bernanke warns monetary policy may not be enough to offset the damage if the u.s. economy goes over the fiscal cliff. >>> and the fed takes the new and surprising step in its ongoing efforts to boost the economy, tying interest rates directly to the u.s. unemployment rate. >>> plus, investors cheering the plan to save danone's plans to offset losses over the next two years. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >>> welcome to the program. coming up on today's show, we'll be plenty busy. we head out to tokyo where carry enjoji has been talking about the upcoming elections. then, we hone in on central london where one pilot project is living roof and major buildings. find out what green living can do go r to improve the area. >>> and today, the 1 billionth international tourist will reportedly arrive at a destination in the world. at 11:20 central time, we'll speak to the world travel council to find out why france is still the world's top destination bu
the euro bounces on the news but stocks in europe are trading lower as ben bernanke warns monetary policy may not be enough to offset the damage if the u.s. economy goes over the fiscal cliff. >>> and the fed takes the new and surprising step in its ongoing efforts to boost the economy, tying interest rates directly to the u.s. unemployment rate. >>> plus, investors cheering the plan to save danone's plans to offset losses over the next two years. >> announcer: you're...
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i think that's a mistake. >> steve, ben bernanke said today if we do go over the fiscal cliff, even if it's for a short period of time, it's going to be very costly and they do not have the tools to basically dig us out of it. do you believe if we go over the fiscal cliff it won't be as easy as the governor is suggesting? >> we're in trouble anyway this quarter and the next quarter and putting on taxes of any kind would be the wrong thing to do. sometimes the governor is a former physician, current physician, and you learn first go don't harm the patient. putting on taxes would harm the patient. we've seen that around the world. >> what do we do with the deficit problem we have? >> the only way to get rid of a deficit ultimately, spending restraint. you've got to do entitlement reform. that will take months, not a few weeks, but it's grow the economy. if we had revenues equal to what we normally do, 18%, 19% of gdp, that cuts the deficit in half. there's no way you can tax and cut spend out of this contraction. the last time we tried that was the early 1930s. did not work. >> let me di
i think that's a mistake. >> steve, ben bernanke said today if we do go over the fiscal cliff, even if it's for a short period of time, it's going to be very costly and they do not have the tools to basically dig us out of it. do you believe if we go over the fiscal cliff it won't be as easy as the governor is suggesting? >> we're in trouble anyway this quarter and the next quarter and putting on taxes of any kind would be the wrong thing to do. sometimes the governor is a former...
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and bern bueno ben bernanke hasn transparent and telling people well in advance what he is going to do. the $85 billion should continue building up for our taxpayers balance sheet. >> susie: how does all of this play out in the markets. all of the bond buying, companies are still holding off from hiring and spending, and now the risk, possibly of a recession. how does it play out in the markets for 2013? >> what has happened, with all of this cash going into the market -- into the economy, not only from the u.s. fed, but from europe, from the central bank there, as well as from china, don't forget, so we've had this liquidity which has taken asset prices with the stock market and the bond markets, pricing it way up, it is actually helping housing after a long wait. moving into the future, there will be some reduction in really the fear that people have. it is not only a lack of confidence, but it is a fear of things going wrong. as we get day to day, i think the fed has been the only place in town to inject some optimism or feeling somewhat better in the general public, as well as in b
and bern bueno ben bernanke hasn transparent and telling people well in advance what he is going to do. the $85 billion should continue building up for our taxpayers balance sheet. >> susie: how does all of this play out in the markets. all of the bond buying, companies are still holding off from hiring and spending, and now the risk, possibly of a recession. how does it play out in the markets for 2013? >> what has happened, with all of this cash going into the market -- into the...
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ben bernanke will feel it's his job to do whatever he can. that's the nature of the team, that's the nature of what they've been doing. are there any extra goodies that they might think of in your view? >> the extra goody they're talking about i would describe as operation twist. what they have been doing is driving down long-term rates, by essentially settling short-term treasuries and buying long-term treasuries. the possibility that steve just described, and it is a possibility, is that because they're running out of the short term, they will only buy the long term. that will certainly be an expansion. but the question is, will that expansion add a lot to the -- >> let me ask you about that. on a scale of 1 to 10, how powerful a tool is that? if they announce it today, mark? >> it has a significant psychological effect. but it's only psychological. it will be a long time before that would have any fundamental effect on the underlying economy. >> you know, mark, let me rather than going immediately to john on this question, let me ask you w
ben bernanke will feel it's his job to do whatever he can. that's the nature of the team, that's the nature of what they've been doing. are there any extra goodies that they might think of in your view? >> the extra goody they're talking about i would describe as operation twist. what they have been doing is driving down long-term rates, by essentially settling short-term treasuries and buying long-term treasuries. the possibility that steve just described, and it is a possibility, is...
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today is the day after ben bernanke unveiled big new money printing program. it is also his 59th birthday, no impact on the market obviously. yum! brands up slightly today. this is the company behind taco bell and kfc. goldman sachs upgrading the stock, says its recent problems in china, only temporary. at this price $68 a share. 68 they say heading higher. goldman is downgrading darden restaurants. t it says -- it says the turnaround at olive guaarden is slow. it is down. boston beer makes sam adams beer, it expects to make more money next year, simple reason it is selling more beer. the stock hit all-time high today. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. stuart: the federal reserve is going to start tying interest rates to
today is the day after ben bernanke unveiled big new money printing program. it is also his 59th birthday, no impact on the market obviously. yum! brands up slightly today. this is the company behind taco bell and kfc. goldman sachs upgrading the stock, says its recent problems in china, only temporary. at this price $68 a share. 68 they say heading higher. goldman is downgrading darden restaurants. t it says -- it says the turnaround at olive guaarden is slow. it is down. boston beer makes sam...
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and then we really watched as ben bernanke was speaking the market lose its steam. the nasdaq also went negative where it is right now, and, you know, bill, i guess we'll ask our guests what it is that the market was disappointed by when listening in to him. a couple of things that i latched on to and one of them is the fact that we don't have the tools if we go over the fiscal cliff. it's going to be costly regardless, even if we go over short term, and the other one was the ability to provide accommodation is not unlimited, ie, we may think that qe will go on forever, but he's saying, guess what, folks, it won't. >> sometimes reality hurts the markets there. >> yeah. >> let's get reaction from our guests, tyler verne oven builtmore capital and our friend ron insana and rick sell who got a shutout during the news conference identified as steve liesman's nemesis and steve who was the first questioner there during the chairman's news conference will be joining us shortly here as well. tyler vernon, what do you make of the fed's new view of monetary policy? they are t
and then we really watched as ben bernanke was speaking the market lose its steam. the nasdaq also went negative where it is right now, and, you know, bill, i guess we'll ask our guests what it is that the market was disappointed by when listening in to him. a couple of things that i latched on to and one of them is the fact that we don't have the tools if we go over the fiscal cliff. it's going to be costly regardless, even if we go over short term, and the other one was the ability to provide...
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you had both ben bernanke. you had the minnesota fed chairman -- >> coach likota. >> thank you for bailing me out. >> liesman will be happy i knew that. >> the economy was getting better and the ten-year went from 1.8% all the way up to 2.40. what happened in april? you printed 68,000. the message of the market was wrong. fast forward to september, same thing. the announcement of qe3 was supposed to be reflationary. within one week it was the high of the s&p. >> let's go to stephanie link before we bring in the professor to decide if any of you are getting an "a" on this pone. >> i think the fed will continue to keep rates low because we're only growing gdp at 2.7%. we're looking at the fiscal cliff and austerity and he's doing what he can just to keep this thing afloat and to not go back into a recession. i think rates stay low for an extended period of time. i don't know if we get to 6.5% next year or in two years from now, but that's not -- it's not going to be like all of a sudden we get to 6.5 and bam, he
you had both ben bernanke. you had the minnesota fed chairman -- >> coach likota. >> thank you for bailing me out. >> liesman will be happy i knew that. >> the economy was getting better and the ten-year went from 1.8% all the way up to 2.40. what happened in april? you printed 68,000. the message of the market was wrong. fast forward to september, same thing. the announcement of qe3 was supposed to be reflationary. within one week it was the high of the s&p....
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but it certainly could give a shock to the economy. >> ben bernanke saying he's out of their suitcase and he's got nothing left, right? is that he's basically saying? >> he said this could be going on for years and years to come. what you have is a maximum amount of stimulus. and that is being financed by enormous amount of financing. tracy: that's something we have to talk more about. it could be very ugly enough the end of the day, it could be very interesting. all right, do you think we are headed off the fiscal cliff? let us know. give us an e-mail at gerri@foxbussiness.com. >> coming up on "the willis report", tax dollars have bailed out these workers. we have the shocking findings of a new report coming up next. also, for those fed up with apple's disaster mapping system, google maps is back in business for your iphone. details coming up later. also, they say no news is good news. but this you will definitely want to hear. new evidence of obamacare doing more harm than good to your bottom-line. we will have the latest and we are on the case next in "the willis report." speed. tr
but it certainly could give a shock to the economy. >> ben bernanke saying he's out of their suitcase and he's got nothing left, right? is that he's basically saying? >> he said this could be going on for years and years to come. what you have is a maximum amount of stimulus. and that is being financed by enormous amount of financing. tracy: that's something we have to talk more about. it could be very ugly enough the end of the day, it could be very interesting. all right, do you...
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ategyhairman ben bernanke said the employment target is a better signal to investors and the public of just how long interest rates will stay low. >> a strategy that we believe ill help support household and business confidence and spending. >> reporter: to control interest rates, the fed plans to buy $85 eellion worth of bonds every ownth, $45 billion in treasury bills, $40 billion worth of hinggage bonds. the mortgage buying program has already driven rates to historic lows and driven up mortgage applications by 10%. but bernanke says the economy afeds more confidence now because of the uncertain fiscal cliff negotiations in unshington. and the harm from the fiscal cliff won't just happen in the enedre. bernanke said that's happening now. >> it's already affecting absiness investment and hiring decisions by creating uncertainty, or creating r:ssimism. ai saw what happened recently to consumer sentiment, which fell, tesumably in part because of concerns about the fiscal cliff. t reporter: the other main concern for the fed is inflation. but, scott, there's good news here. despite the
ategyhairman ben bernanke said the employment target is a better signal to investors and the public of just how long interest rates will stay low. >> a strategy that we believe ill help support household and business confidence and spending. >> reporter: to control interest rates, the fed plans to buy $85 eellion worth of bonds every ownth, $45 billion in treasury bills, $40 billion worth of hinggage bonds. the mortgage buying program has already driven rates to historic lows and...
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. >> sreenivasan: ben bernanke also had several caveats. explain those? >> so ben bernanke, the fed chairman, was very clear that today's statement doesn't represent an abandonment of low inflation. he said, for example, that if inflation were to rise unexpectedly, over 2.5% in their own forecasts, that might be reason enough for them to start raising interest rates even if unemployment has not come down 206.5%. >> sreenivasan: markets traditionally love certainty. why didn't they embrace it today? >> i think markets are starting to question whether the fed actually has the ability to deliver on this commitment to low unemployment. they've got the interest rates at 0, they have trillions of dollars worth of bonds and still the economy is very, very weak. >> sreenivasan: going forward, are there things that we should be looking for as signs from the fed on what's going to happen or should we be paying more attention to unemployment rate? >> well, the fed has taken one more step today. they're doubling the amount of bonds they're buying by printing money. t
. >> sreenivasan: ben bernanke also had several caveats. explain those? >> so ben bernanke, the fed chairman, was very clear that today's statement doesn't represent an abandonment of low inflation. he said, for example, that if inflation were to rise unexpectedly, over 2.5% in their own forecasts, that might be reason enough for them to start raising interest rates even if unemployment has not come down 206.5%. >> sreenivasan: markets traditionally love certainty. why didn't...
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Dec 12, 2012
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. >> and you can thank big ben bernanke, the fed chief. a lot of people saying that the federal reserve and its herculean efforts to keep the economy moving is why stocks are up, why the economy is growing, and they're expecting the fed to announce new measures, new st stimulus to keep it going. so when you hear the catch phrase that the fed is the only game in town, the fed is the only game in town. around the world it has been central banks who are independent from governments, central banks who have been doing so much, pumping money into the system to keep things going. s&p 500 up 13% so far this year. all of these uncertainties we talked about, the fiscal cliff, all of that stuff, it is because of the certainty of fed policy many people are telling me, also because they think on wall street the fiscal cliff will be avoided. they think on wall street the only thing left to do is a little bit of shouting over what the top rate will be. 36%, 37%. they think corporate taxes will come down and we know that that is in the latest sort of prop
. >> and you can thank big ben bernanke, the fed chief. a lot of people saying that the federal reserve and its herculean efforts to keep the economy moving is why stocks are up, why the economy is growing, and they're expecting the fed to announce new measures, new st stimulus to keep it going. so when you hear the catch phrase that the fed is the only game in town, the fed is the only game in town. around the world it has been central banks who are independent from governments, central...
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ben bernanke's news conference starts at 12:15 p.m. eastern time. steve joins us in a few minutes with the preview from washington. >>> another story with big implications is michigan's decision to become a righ"right work" state. it would bar members from requiring to pay member dues. the governor signed the law. >> shouldn't unions be putting out the proposition workers want to join a union and shouldn't workers be able to make a choice their dollars are going to that union based on whether they're getting results that. 's what this is doing. that's why i view this as pro worker, not anti-union. >> it is viewed as a big blow to organized union that has seen membership decline across the country. dow opened higher by 56, nasdaq by 13 and s&p by a little more than 7, a gain half a percent across the board. in asia, higher across the board, not a lot. hang seng did well, higher by 181 points. europe still open at this hour, higher across the board. a gain for germany and quarter percent for the ftse, fairly flat where decide iing he will longer be a
ben bernanke's news conference starts at 12:15 p.m. eastern time. steve joins us in a few minutes with the preview from washington. >>> another story with big implications is michigan's decision to become a righ"right work" state. it would bar members from requiring to pay member dues. the governor signed the law. >> shouldn't unions be putting out the proposition workers want to join a union and shouldn't workers be able to make a choice their dollars are going to that...
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bernanke wall street they all they all want to piece of scala johanson slow. now to be clear here what hollywood accounting is and i used to work in hollywood so i know this is these big entertainment conglomerates basically for example the music music industry used to make money but they would hide all the profits in the losing sector or vice versa so wherever you wherever you were making profits you could make them disappear somewhere else so no movies ever make profits as well because they convince young ingenues to come out there or well known actors to participate in the film and what they do is they give them back and points they say will pay you in the profits and of course the films don't make profits because they make sure that it all goes to their expenses right it's accounting from you know booking some of the games early for games executives in the short term losses are amortize it to over insanity you know as it's all of this the worst excesses of accounting fraud but this is the model that's been picked up by corporations around the world general
bernanke wall street they all they all want to piece of scala johanson slow. now to be clear here what hollywood accounting is and i used to work in hollywood so i know this is these big entertainment conglomerates basically for example the music music industry used to make money but they would hide all the profits in the losing sector or vice versa so wherever you wherever you were making profits you could make them disappear somewhere else so no movies ever make profits as well because they...
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Dec 10, 2012
12/12
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bernanke. wednesday is his birthday, happy 59th mr. chairman. november retail sales report will be out on wednesday as is the first of two inflation indicators, tracks prices at the whole sale level and followed up on friday with the consumer price index which follows. finally, if you are on this list, it doesn't set you apart. professional networking site linkedin released 2012's most overused bud words on profiles. they are being used so often they lose significance with hiring manager. analyzing 187 million profiles around the globe. creative is the top offender in the united states as well as seven other countries. rounding out the rest of the top fire, organizational, effective, motivated and extensive experience. using buzz words in an effort to land your dream gig can be a buzz kill, just fyi. my guest next week, grover nor quist. we'll get an update on where we stand with the fiscal cliff negotiation. keep it here where wall street meets main street. i'll see you again next weekend. bp
bernanke. wednesday is his birthday, happy 59th mr. chairman. november retail sales report will be out on wednesday as is the first of two inflation indicators, tracks prices at the whole sale level and followed up on friday with the consumer price index which follows. finally, if you are on this list, it doesn't set you apart. professional networking site linkedin released 2012's most overused bud words on profiles. they are being used so often they lose significance with hiring manager....
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Dec 13, 2012
12/12
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you know, it was ben bernanke who first coined the term. and he was talking about the economy going over the cliff if we did not act appropriately. so we absolutely have to do the right thing here. now, having said that, to juxtapose medicare and social security, which are programs in which people pay into all their lives, as being the area that we are going to cut, is not where i believe the cut should be should be takes place. >> representative, from that note, according to politico, the article we were talking about earlier, john boehner is able to move on with revenue for the cuts if john boehner says okay to a deal, will you extend the tax hikes for the rich to raise the issues on medicare? >> that's one area that doesn't make any sense. why should we do something that's stupid? raising the retirement age from 65 to 67, actually, only nets $2 billion. and the other costs associated with it is, maybe it's closer to $5 billion. but the other costs associated with it, in emergency room its terms of having to subsidize medicare in the stat
you know, it was ben bernanke who first coined the term. and he was talking about the economy going over the cliff if we did not act appropriately. so we absolutely have to do the right thing here. now, having said that, to juxtapose medicare and social security, which are programs in which people pay into all their lives, as being the area that we are going to cut, is not where i believe the cut should be should be takes place. >> representative, from that note, according to politico,...
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Dec 6, 2012
12/12
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it doesn't matter what ben bernanke does. i think his programs have long since not really helped the employment side, but the fiscal cliff is doing obvious damage. that's going to make what everybody knows is coming. we ran out of two years to sell. they're going to go from a twist to outright purchases. it's fully built into the market, but it isn't going to help. the fiscal cliff is going to do more damage to the psyche of job creation than anything that ben bernanke can do. >> any expectations in terms of the jobs numbers? what do you look for? >> we're looking for better than expected. rit, the sandy effect will be there. you should see actually better job growth next year, and that also becomes that second catalyst into the marketplace that could put the s&p at an all-time high next year. >> what about the fiscal cliff though? if we take out the mortgage deduction, which is being hotly debated in terms of the exemptions and loopholes, does that stop this housing recovery in its tracks? >> if you pick a midpoint between 0
it doesn't matter what ben bernanke does. i think his programs have long since not really helped the employment side, but the fiscal cliff is doing obvious damage. that's going to make what everybody knows is coming. we ran out of two years to sell. they're going to go from a twist to outright purchases. it's fully built into the market, but it isn't going to help. the fiscal cliff is going to do more damage to the psyche of job creation than anything that ben bernanke can do. >> any...
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Dec 9, 2012
12/12
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WBAL
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bernanke in there. on friday.t news >> unemployment report was better than expected but needs to be better than that. >> buzz in washington about whether susan rice or john kerry will be the next secretary of state and i'm told the president hasn't made up his mind yet and may not make up his mind until january. he wants to get the fiscal cliff business done with so don't be in a rush to await that decision. chris: when we return, the the week, will barack obama's scores in the second term be on foreign policy or here at home? chris: welcome back. syria, egypt and afghanistan are just the foreign policy challenges we already know about russia out china and there which brings us to the big question this week -- will the president's second term triumphs be abroad or here at home? >> i think his second term will be defined by foreign policy and looming confrontation over iran. chris: politco has spoken. >> despite all of the domestic issues, he will have a bigger role to play on the world stage and brought
bernanke in there. on friday.t news >> unemployment report was better than expected but needs to be better than that. >> buzz in washington about whether susan rice or john kerry will be the next secretary of state and i'm told the president hasn't made up his mind yet and may not make up his mind until january. he wants to get the fiscal cliff business done with so don't be in a rush to await that decision. chris: when we return, the the week, will barack obama's scores in the...
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Dec 13, 2012
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ben bernanke just throwing a trillion dollars at this and all of a sudden today everything is coming up roses. 2 t is frustrating. didn't want it believe it. and we saw the fiscal cliff hanging over. >> do you agree with that, michael? >> bernanke doesn't come out and display one side. he is trying to talk the market into being optimistic but not too optimistic. the take away that i really thought was critical yesterday, this whole target rate gives investors a map for how to invest over the next couple of years. i have a blog on cnbc right now that talks exactly about that issue. he essentially said you stay in bonds for a year, year and a half until unemployment starts to come down into the 6s. that point, you sell, put risk on. make sure you're international -- >> my question for you, michael, is a lot of our viewers have a lot of portfolios in fixed income assets. mutual funds or whatever. what should they be doing if anything now and what is the signal for them to act and do something? >> great question. all of this is theoretical until you operational it for investors. if you a
ben bernanke just throwing a trillion dollars at this and all of a sudden today everything is coming up roses. 2 t is frustrating. didn't want it believe it. and we saw the fiscal cliff hanging over. >> do you agree with that, michael? >> bernanke doesn't come out and display one side. he is trying to talk the market into being optimistic but not too optimistic. the take away that i really thought was critical yesterday, this whole target rate gives investors a map for how to invest...
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you may want to go and check that out now tomorrow of course is the f o m c minute meetings results ben bernanke has a presser jim rickards author of currency wars will be here with his insights he's always amazing on the fed you can watch us and h.d. on hulu there's the address right there and forever in here at capital account thank you so much for watching and have a great night. you see. destruction with and see. what could be just really. saying a great sacrifice. and. understood by just six. we're going to college. you to is a. job . site. well into the future science technology innovation called the least developed mints from around russia we've got the future covered. up to speed cool language. programs and documentaries in arabic it's all here on all t.v. reporting from the world's hot spots of a p.r. people interview most intriguing stories for you here. in trying. to find out more visit are a big all teeth dog called. michelle soon which brightened a few pounds from phones to impressions. from stone totty dot com. you know how sometimes you see a story and it seems so you thi
you may want to go and check that out now tomorrow of course is the f o m c minute meetings results ben bernanke has a presser jim rickards author of currency wars will be here with his insights he's always amazing on the fed you can watch us and h.d. on hulu there's the address right there and forever in here at capital account thank you so much for watching and have a great night. you see. destruction with and see. what could be just really. saying a great sacrifice. and. understood by just...
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Dec 13, 2012
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chairman ben bernanke says long term interest rates will remain near zero until the unemployment rate drops below 6.5%. unemployment currently at 7.7%. here now with more on that and a check with the markets, jeff cutmore is live from london. good morning you to. >> good morning. you know, uncle ben has gone back into his toolbox and he's pulled out one thing we were expecting which was a continuation of the bond buyback program. so that was pretty much baked into the story. but the thing we weren't expecting, perhaps, was this change in policy and this tying of zero interest rates to the unemployment rate. he now saying it remains at near zero until we get the jobs rate down below 6.5%. we're currently sitting at 7.7%. so there is a little room to go yet. we have near zero interest rates to come. unsurprisingly, markets like it but not quite as much as you might have expected given that they knew part of the deal was already due to come down the pike. >> apple and the headlines, what do we know about them trying to dive head first into the tv market? >> yeah. it's a fascinating story
chairman ben bernanke says long term interest rates will remain near zero until the unemployment rate drops below 6.5%. unemployment currently at 7.7%. here now with more on that and a check with the markets, jeff cutmore is live from london. good morning you to. >> good morning. you know, uncle ben has gone back into his toolbox and he's pulled out one thing we were expecting which was a continuation of the bond buyback program. so that was pretty much baked into the story. but the thing...
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you may want to go and check that out now tomorrow of course is the f o m c minute meetings results ben bernanke has a presser jim rickards author of currency wars will be here with his insights he's always amazing on the fed you can watch us and h.d. on hulu there's the address right there and from every here at capital account thank you so much for watching and have a great night. you see. destruction with and see. what could be just really. saying a great sacrifice. and. understood by drugs which. are going to college and something that. you do is a. job . site. call. it. up. close and. play. play. to me speak your language just click click programs and documentaries in arabic it's all here on the t.v. reporting from the world's hot spots the v.i.p. interviews intriguing story for you. in trying arabic to find out more visit our big teeth dog called. live play. play. play. play. play. play. play who. play play play play play . mission is free cretaceous free. for judges free. agent free. three stooges free. download free blog counseling video for your media projects and free media do
you may want to go and check that out now tomorrow of course is the f o m c minute meetings results ben bernanke has a presser jim rickards author of currency wars will be here with his insights he's always amazing on the fed you can watch us and h.d. on hulu there's the address right there and from every here at capital account thank you so much for watching and have a great night. you see. destruction with and see. what could be just really. saying a great sacrifice. and. understood by drugs...
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bernanke as a presser jim rickards author of currency wars will be here with his insights he's always amazing on the fed you can watch us and h.d. on hulu there's the address right there every every here at capital account thank you so much for watching and have a great night. mission free cretaceous free in-store charge free arrangement free. three stooges free. download free broncos quality video for your media projects a free radio gondar t. dot com. wealthy british soil the sun. rises from the. market why not. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune in to conjure reports .
bernanke as a presser jim rickards author of currency wars will be here with his insights he's always amazing on the fed you can watch us and h.d. on hulu there's the address right there every every here at capital account thank you so much for watching and have a great night. mission free cretaceous free in-store charge free arrangement free. three stooges free. download free broncos quality video for your media projects a free radio gondar t. dot com. wealthy british soil the sun. rises from...
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. >> ben bernanke's latest move to stimulate the economy, is it actually hurting things? steve liesman and rick santelli tackle it out next. >> oh, boy. and we'll hear from a top republican lawmaker warning that the real fiscal cliff is a couple years away when the economy could collapse because of runaway spending. congressman paul brown will join us. >> and top picks for 2013. you'll never guess what stock he likes the most. >> hmm. >> back in a moment with that. [ male announcer ] with wells fargo advisors envision planning process, it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. [ male announcer ] you build a reputation by not breaking down. consider the silverado 1500 -- still the most dependable, longest-lasting full-size pickups on the road. and now we've also been recognized for lowest total cost of ownership -- based on important things, like depreciation, fuel, and maintenance costs. and now
. >> ben bernanke's latest move to stimulate the economy, is it actually hurting things? steve liesman and rick santelli tackle it out next. >> oh, boy. and we'll hear from a top republican lawmaker warning that the real fiscal cliff is a couple years away when the economy could collapse because of runaway spending. congressman paul brown will join us. >> and top picks for 2013. you'll never guess what stock he likes the most. >> hmm. >> back in a moment with that....
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you may want to go and check that out now tomorrow of course is the f o m c minute meetings results ben bernanke has a presser jim rickards author of currency wars will be here with his insights he's always amazing on the fed you can watch us and h.d. on hulu there's the address right there and forever in here at capital account thank you so much for watching and have a great night. live . you know how sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realized everything you thought you knew you don't know i'm tom harpur welcome to the big picture. in the news that sigrid laboratory to mccurry was able to build a new most sophisticated robot which on fortunately doesn't give a darn about anything tim's mission to teach creation why it should care about humans and worry that this is why you should care only on the dog. he is on to see. destruction without to see. what could have been just ruins. saved by a great sacrifice a hundred story by huge efforts. a remarkable reminder of courage and
you may want to go and check that out now tomorrow of course is the f o m c minute meetings results ben bernanke has a presser jim rickards author of currency wars will be here with his insights he's always amazing on the fed you can watch us and h.d. on hulu there's the address right there and forever in here at capital account thank you so much for watching and have a great night. live . you know how sometimes you see a story and it seems so you think you understand it and then you glimpse...